London – A fire at a major natural rubber (NR) storage facility has contributed to a rally in NR prices on the Shanghai Futures Exchange and other Asian markets.
Prices have risen by up to 5%, following a blaze at a rubber warehouse in Huajun Logistics Industrial Park in Qingdao, Shandong in the afternoon of 1 Dec (see report).
About a third of the warehouse’s 15,000-square-metre floor area caught fire, said a local government announcement. The flames were extinguished by the next morning and no casualties were reported.
According to Chinese news…